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You are here: Home » Resources » Articles » When Is Cleaning Up A Dry Cleaner Worth The Risk?

February 10, 2015

When Is Cleaning Up A Dry Cleaner Worth The Risk?

By Partner ESI

CURRENT OR HISTORIC DRY CLEANER OPERATIONS ARE SEEN AS A DEAL-KILLER BY MANY SHOPPING CENTER…

…investors, lenders, and their attorneys—but they don’t have to be!

With the retail industry going through a lot of flux these days, many shopping centers have been, and continue to be, targets for acquisition, redevelopment, or re-positioning. Because many shopping centers have had a dry cleaner tenant on site at one point or another, releases of perchloroethylene (PCE) and other volatile organic compounds (VOCs) are a common risk in the transaction of such properties. The current or historic presence of a dry cleaner can create considerable risks and liabilities because of the high toxicity of the chemicals involved, stringent cleanup standards for these contaminants, and the regulatory requirements adopted by states around the country to address potential human health concerns.

Continue reading the GlobeSt blog here.

About the Authors

Partner ESI

Partner ESI

Founded in 2007, Partner Engineering and Science Inc., is the leading provider of engineering, environmental, energy, and construction consulting for the commercial real estate (CRE) industry. Touching 1 in 5 CRE transactions in the U.S., Partner is widely recognized as the largest and best provider of third-party physical due diligence reports, including Phase I Environmental Site Assessments, Property Condition Assessments, Seismic Risk Assessments, Zoning Reports, ALTA Land Title Surveys, and Construction Risk Management. Partner’s connectedness to the CRE market gives it an unparalleled view into CRE trends and risk management insights. Partner also provides a full suite of consulting services to support the entire real estate lifecycle, including: Geotechnical Consulting; Building Systems Consulting; Capital Management and Project Implementation Support; Environmental Health & Safety Consulting; Energy, Sustainability & Resilience Consulting; and Site Civil Engineering. With a responsive approach scaled for speed and agility, Partner helps clients manage risk, make smart investments, optimize asset performance, and win at their real estate investment strategies. Based in Torrance, Calif., Partner has over 1,400 employees in 40 offices around the globe.

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